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cliff resolution but the concern is shifting now to the debt ceiling debate and what washington is going to do about it. joining us now is mark moriel, ceo of the national urban league and former mayor of new orleans. and former special assistant to george w bush, ron christie. i would like to start first of all with the debate on pork. because we have of course, the debt ceiling debate looming large and we are now in the rearview mirror looking at all of the pork that was put into the last measure. ron, let me start with you. you can argue both sides, certainly, but there are those who say that adding pork to bills is the only way it get business done in washington these days. is that correct? >> no, i don't think it is, sue. i think this unfortunately is the new normal 6 washington. but members of congress have gone out of their lanes. gone out of what is the regular order of the house and regular order of the senate, which is to pass a budget resolution setting up the funding levels for appropriations committee and appropriations committee to actually sit down and deliberate. the sena
. congress is already bracing for its next fight. which is the debt ceiling debate. and the democrats aring sending a clear message. they plan to win that battle and they will not negotiate over the debt ceiling. both house minority leading nancy pelosi, and senate majority leader harry reid today said the president should step in and exert his executive power to win the debt ceiling fight. and senator chuck schumer said that going forward the democrats would be tough in feeling with the obstructionist republicans. >> if they realize for sure that they are not going to have a negotiating partner, they will have to find another route to bring the changes they want. >> jennifer: no negotiations, no partnership, smart thinking but perhaps the most unlikely voice of reason today was former house speaker newt gingrich. he called on house republicans to stop playing politics with the economy. newt gingrich. >> they have got to find in the house a totally new strategy. the whole national financial system is going to come into washington by television and say oh, my god this will be
. are we headed for a government shutdown as we start the debt ceiling battle? we'll debate that big question hanging over washington and the whole country next. a government shutdown. you'll also find us in person, with dedicated support teams at over 500 branches nationwide. so when you call or visit, you can ask for a name you know. because personal service starts with a real person. [ rodger ] at scottrade, seven dollar trades are just the start. our support teams are nearby, ready to help. it's no wonder so many investors are saying... [ all ] i'm with scottrade. it's no wonder so many investors are saying... i've always had to keep my eye on her... but, i didn't always watch out for myself. with so much noise about health care... i tuned it all out. with unitedhealthcare, i get information that matters... my individual health profile. not random statistics. they even reward me for addressing my health risks. so i'm doing fine... but she's still going to give me a heart attack. we're more than 78,000 people looking out for more than 70 million americans. that's health in numbers
't act over the next couple of months during the debt ceiling debates we might be saying goodbye to another triple-a rating. charles swab chief investment strategist sanders says that another downgrade could come down. s&p is the only one that down grades, moody's skewed that, but hinting not this time. what would be the reason? >> well, look they said if we actually went over the cliff that would probably be a reason not to downgrade because it would have, from a deficit perspective and a debt perspective set us on that path much more quickly in a more meaningful way. >> neil: they would probably like that. >> probably like that. the numbers work a little better on the near term and that's not the case this time. the question, do they wait until they see what happens upon the debt ceiling, if we get the kind of meaningful entitlement reform. maybe they hold off until then. >> neil: only a couple of months. >> only a couple of months away and that's another big fight, but, i don't know that it has quite the calamitous impact that i think a lot of people assumed it would have back
will increase payrolls this year in spite of the debt ceiling debate. >> i don't think that the spending cuts will be as significant headwinds for the u.s. economy because these spending cuts are made over ten- year period. there won't be a significant amount of spending cuts that will take place in 2013, so that's why i think it's less of an issue. >> reporter: still, there's ample concern about what the expiration of the payroll tax cut will mean for spending and ultimately hiring. don't forget all americans will see a smaller paycheck this year, because of that change. >> consumers aren't well poised to absorb a 2% tax increase and nonetheless that's what's going to happen, and it's going to keep us stuck in this slow growth territory. >> reporter: and, slow economic growth makes companies less confident about adding new workers. as a result, it is widely predicted that this year will be another period of only modest hiring. >> my expectation is that we'll probably see more of the same. 150,000, give or take, slight, gradual declines in the unemployment rate over time. it's hard to see wha
, be wise, careful, thoughtful before we head into another debt ceiling debate which history has taught all of us that you will lose in just about two months. please, be creative, thoughtful. republicans are also warning about what they're going to do about spending as well as the debt ceiling. the speaker made clear to they that he, at least, but have to govern better. forget the fiscal cliff. republicans are looking at a precipices of their own relevance. voters, both democrat, republican, independent, want them to govern. your nose, they might even win if you against this president who has drug immersed most -- mercilessly. that might be helpful if the gop could fashion and a reader to. try it. house speaker lost almost two-thirds of his caucus monday. the next day he won reelection. >> seventy-seven posterity. it calls us to refuse the pull of passing interest and fall of the big star of a more perfect union. put simply, do something. lou: a different kind of leader in his second term? the "a-team" is here. casualties of war. to many of our troops killed on the battlefield in 2012. to m
debt ceiling debate was horrific and had a major effect on the economy. >> lots of volatility. i don't know if it's another cliff. i mean, a milk cliff and cheese cliff and everybody is worried about it. can i tell you something? i've been doing this for close to 50 years. i've never seen so many people so negative for so long. guys, put on your bullish hat. this thing is going to sail. >> and that is -- we should point out. that's a contrarian way to think, right? when everybody is so bearish that's the precise moment you should be bullish. >> we're talking mega bearish. airline at 52-week highs, housing at 52-week highs, autos. a lot of groups have already done very well >> what about the financials, they are coming on. hello. i've got to ring a bell for you. >> there's room for more. >> absolutely. i was on the floor a couple of weeks ago, and i said to someone i really like bank of america. a young fellow came up and said, gee, i took your class. got a target at 11.5. i grabbed him and said what chart are you looking at, boy? you're looking at the world through a microscope. step
by the debt ceiling debate, by the other cliff. >> 2.0. >> go into international, try to find companies that are much less levered to the united states. that may be the way. i've been talking about mexico, brazil, india, these are countries that have very solid governments that don't seem mickey mouse. remember, i hearken back to michael, looking at the partisanship in our country. had esaid not since the reconstruction period, reconstruction in our country has it been this partisan. it's hard to invest in that environment. >> it's not going to get better anytime soon. >> there's only one good story out of washington. >> what is that? >> i know exactly where he's going. >> where am i headed? >> rg3, baby. >> thank you very much. that's the only thing out of washington -- they beat seattle. which i don't think they can do. they'll finally get the fiscal cliff, the debt ceiling off the front pages and that's what's necessary. it's the great american athlete. >> we'll put a friendly wager on that one. my guys are looking good. >> that's all i'm saying. >> they're looking good. >> but washi
cliff, what is next? we expect, of course, a vigorous debate over the debt ceiling. by late february and early march they have to decide whether or not to raise the ceiling or risk economic chaos. the automatic spending cuts put off this week will hit march 1st. the deal only delayed them, so it didn't really solve the problem. funding for the government runs out on march 27th unless a new revenue bill is passed. >>> with all that is coming up, we want to bring in alison kosik in the new york stock exchange to talk about how people are reacting to the news. we know there's a higher payroll tax everybody got hit with here, but there were some breaks for a lot of families. so how does it balance out? >> here's some of the positive that came out of all that political posturing. the fiscal cliff deal did include some savings for families and in some cases it could amount it to thousands of dollars. these are mostly for low income families. the first one out of this is it preserved the child tax credit. that's about $1,000 credit per chi child. this is for people going to college. this gi
about the debt ceiling debate? we are about to go through another round of arguing in washington. what do you think they should do to stimulate and build jobs in this country which we still don't have on a meaningful level? >> just get it done is what they should do. it is not just the debt ceiling. it is the point of live ridge. the issue is how much are we going to cut from federal government spending to get the budget deficit in line with what it needs to be on long-term basis and they are already squabbling over that. the other king is talking about discretionary spending and entitlement represent 60% of overall outlays. we really cannot get to the promised land unless we also addressed the entitlement situation which of course is politically unpopular because politicians, threaten their job security. cheryl: what do you say? should we address retirements? >> fiscal cliff 2.0, some people like talking about it today. we have to be careful. we can't take a stir approach and have across-the-board cuts. we have to make sure we minimize the adverse effect on middle income families. for
to have a debate with congress over raising the debt ceiling and making sure america can pay its bills, but as we saw the last time, that's not really up to the president. >> yeah, now, first thing's first, the house taking up the sandy aid bill today. how is this different than what they've considered before or haven't considered before? >> well, the thing is the senate already passed a bill. what the house is doing is breaking it into two pieces. after they reached that big deal to avert the fiscal cliff, postpone it, really, a lot of house republicans, especially from new york and new jersey, were angry the speaker did not put on the floor a vote for sandy aid for these relief victims. they're going to vote later this morning on a bill. about $9 billion for the national flood insurance program. that's to be able to give money to that program so it doesn't run out. fema has said that money would run out starting next week at some point. the idea is to vote on that today and then on january 15th they'll vote on another $51 billion in general aid. so today's the first of two votes. >>
of this is going to get wrapped up in the debt ceiling debate? >> i hope a lot. >> which he has said he won't negotiate on and is clearly trying to separate these issues? >> i think instead of saying what we won't do for the next two months let's have a president and those of us on capitol hill say what we will do and what we ought to do is work together to do what everybody knows needs to be done. this is what nobody wants to talk about. nobody wants to talk about. the president has not made a proposal on this. he keeps talking about a number but he's never done what senator corker and i have done, which is say, here's exactly what we need to do. he needs to provide that leadership. if he does, it will happen. >> senator, this is arthur brooks. i got a quick question for you about what i think is probably the easiest, most commonsense of reforms that you just talked about, which is matching the retirement age for medicare up with the retirement age for social security, which is moving up from 65 to 67 and i know that you're in favor of that, and so is virtually everybody who is looking at
don't want a shutdown, but we have to have real savings and reforms before it can have a debt ceiling debate. host: and the debate over the filibuster rule is something the senate will be taking up, harry reid setting perform needs to take place. some freshmen members, seven of the nine freshmen democrats say they support changes to the filibuster rule. guest: i think there will be some changes to the filibuster rule. we have been working on it. the majority leader in the senate and the minority leader are negotiating already the changes right now. i think it has to be done in a way where you continue to have a filibuster, but you have some changes that would ensure minority rights are represented in the senate, so you have the kind of policy coming out of the congress that has broad based bipartisan support throughout public. we are talking about addressing these big challenges. we're talking outperforms to entitlement programs. when we talk about tax reform, when we talk about finding real savings to get on top of the debt and deficit, when we talk about a balanced budget amendment,
will not negotiate over the debt ceiling. >> i will not have another debate with this congress over whether or not they should pay the bills that they have racked up through the laws that they passed. >> reporter: if the president won't come to the bargaining table one top republican says it may be necessary to partially shut down the government in order to secure the long-term fiscal well being of our country. >> the yeas are 354. >> reporter: a preview came in the house where 67 republicans including paul ryan voted against $9.7 billion in aid for victims of superstorm sandy. >> shame on you. shame on congress. >> reporter: the fact that the rest of the storm relief is up in the air was a let down for new york and new jersey lawmakers, even the freshmen. >> i'm new here i don't know all the rules of washington but it seems like the rule here is to put off until tomorrow what should be done today. >> reporter: it was a return of the reality of broken government in washington. vice president joe biden was sworn in and hamming it up with their loved ones. we asked the vice president if thing
on january 21 but with fiscal cliff negotiations half done, and another debate over raising the debt ceiling, some are saying he may stay on longer. a spokesperson is denying the rumors. >>> in 6 hours from now crews will get a look at the bay lights exhibit on the bay bridge. pictures here show a simulation. crews began putting in the lights on the bridge's west spannen september. a lighting -- span in september. >>> a rare sighting of a river otter is drawing quite the crowd. ktvu's lorraine blanco has more on the animal and how his hormones is why he might leave the bay area. >> reporter: dozens are making the trek down there hoping to get a look at a river otter. it is becoming a symbol of hope for all wildlife. >> reporter: he plays among the ruins. a popular spot for tourists. >> we were staying over here and we saw the otter. it was funny. >> reporter: sam first spotted in september was the first river otter seen in san francisco in decades. >> very playful. fun loving. >> he went down and did that a few times. >> i am standing where i think he might be building a nest and hoping he w
. there is a lot -- gerri: are you worried about this debate going on in washington, the debt ceiling to my defense spending, sequestration, on and on. negative impacts in december. did you think those will hold the market back? >> policy mistakes and my number one concern, and that's from washington. the market here is that a very important inflection point. this could be what i call the point of recognition. valuations in the market based on bond yields verses equity yield since august of 2011 when europe was giving big problems. they rose to levels never before seen which show a tremendous fear on the part of investors. right now they're back in the lower part of that range. if we can break through that it shows that investors will not be demanding as much of a risk premium as thee have been. that would be bullish for the market. i think there's a good chance we see all-time highs this year in the s&p. gerri: give me one sector name you like and then we have to go. >> i did not get compliance approval for a name, but i'm very bullish on financials and on consumers. gerri: that gives us a lot to
deadline for the quester when that kicks in. there will be debate about that and the debt ceiling in march. there's going to be the continuing resolution that expires on march 27th. when i look at things like the debt ceiling or credit rating of the united states, that's a non-issue. you're right. that's the thing we should have learned back in august 2011. people don't pay attention to the credit rating agencies anymore, especially when it comes to sovereignty debt. >> if they cut enough time it starts to impact what the government has to pay for their debt. >> look at every institutional investor -- >> if it goes low enough some treasuries couldn't buy those because the rating wasn't high enough for them. >> if you look at every single institutional investor, they define that a u.s. treasury security is a separate investment independent of its credit rating. >> because it implies a aaa credit rating that it doblt even have right now. >> interest rates that the united states pay is what the united states want to charge it. >> why rate? >> i agree. >> it's pointless. >> they shouldn't. >>
in exchange for a vote to increase the debt ceiling. mcconnell wrote an op-ed for yahoo news today saying the fiscal cliff fight represented "the last word on taxes. that debate is over. the strategy is only increase the debt limit if there is an equal amount of spending cuts. we simply cannot increase the nation's borrowing limit without committing to long overdue reforms to spending programs that are the very cause of our debt." that's what makes my blood boil. it is the wars that started all of this that they never paid for. so according to mcconnell, there will be no new revenue to reduce the deficit, just cuts to spending programs like the big three. he wants the president to play ball. or else the country will default on its debts, its good faith, and the united states around the world. mcconnell told his caucus members this -- "we will have the tount put our country back on sound financial footing and there's no excuse not to seize it." but the only way mcconnell can make this strategy work is if he goes out and lies about the president's role when it comes to the debt ceiling. >>
this year. president obama has promised not to negotiate with the new congress on raising the debt ceiling, but republicans are ready to use it to force major federal spending reforms and tame the national debt. right now, the u.s. owes $16 trillion, but some calculate our total liabilities much higher. and as congress jumps from small deal to small deal as they have been, analysts worry big problems are just getting bigger. >> $60 trillion is a conservative estimate of our unfunded liabilities of medicare social security, and medicaid put together. that's scary. and, the fact of the problem of $2 trillion solutions to $60 trillion problems, you see the occasion of the lack of problem and resolve of the political class here in washington. >> reporter: some also worry the down-to-the-wire theatrics of these fiscal debates in washington will overshadow other issues that need to be addressed, like education and immigration reform. issues that could be held hostage until the spending fights are over. sylvia hall, "n.b.r.," washington. >> tom: other changes could soon be in store for washington
with the new congress on raising the debt ceiling, but republicans are ready to use it to force major federal spending reforms and tame the national debt. right now, the u.s. owes $16 trillion, but some calculate our total liabilities much higher. and as congress jumps from small deal to small deal as they have been, analysts worry big problems are just getting bigger. >> $60 trillion is a conservative estimate of our unfunded liabilities of medicare social security, and medicaid put together. that's scary. that's scary. and, the fact of the problem of $2 trillion solutions to $60 $2 trillion solutions to $60 trillion problems, you see the occasion of the lack of problem and resolve of the political class here in washington. >> reporter: some also worry the down-to-the-wire theatrics of these fiscal debates in washington will overshadow other issues that need to be addressed, like education and immigration reform. issues that could be held hostage until the spending fights are over. sylvia hall, "n.b.r.," washington. >> tom: other changes could soon be in store for washington: treasury secr
, that is interesting because during the tax hike debate there was a theory, and it was, you know, said a lot, but the gop by giving in on the tax hikes for the fiscal cliff would actually have leverage on the debt ceiling. i don't see where the gop has leverage at all? >> let's take a step back here and think about what the debt limit is really all about. i think the debt limit is a necessary control to spending and borrowing in this country. what it is is an opportunity, if not a requirement and a requisite for congress and really the american people to sit down and look in a very transparent and forward-looking way whether federal policies are sustainable and affordable. no one can argue that they are. we're in our fifth year, probably of trillion dollar deficits. debt-to-gdp ratio is almost 3/4 debt-to-gdp. 73% it was at the end of the fiscal year. there is no way our fiscal policy is sustainable and the debt limit is the opportunity not only to protect the full, faith and credit of the united states, everybody wants that to happen. ashley: right. >> but to make the major course correctio
was a bad idea -- facebook comment, president obama thought raising the debt ceiling was a bad idea when bush was president and said he would not vote for it, but later voted present. guest: with this a filibuster debate that is going on now in the senate between the republicans and democrats, if you go back and read the comments, they were reversed in 2005 when the democrats were filibustering george bush's traditional nominations. i think it is important to do these things on their merits. i think senator obama's vote was a mistake. if there is any truth in this town, it is that there is no dearth of blame to go around. host: how much time did you take to consider the caucus? guest: i did not make a decision during the campaign. i was asked a question almost exclusively by washington journalists. i was virtually never ask the question by people in maine. most people in maine did not care. they said, go down there and try to get something done. one guy yelled across the diner, i did not care who you caucus with. -- do not care who you caucus with. i am with you all the way. the first qu
Search Results 0 to 23 of about 24 (some duplicates have been removed)